Foxconn Invests Rs 276 Crore in India for Apple Device Manufacturing
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Foxconn, a Taiwanese electronics giant, has invested Rs 276 crore in India to increase the production of Apple devices, including iPhones and AirPods, in the country.
Photograph: Quinn Glabicki/Reuters
New Delhi, Apr 1 (PTI) Taiwanese electronics giant Foxconn has added a new batch of machinery worth Rs 276 crore at its India unit to ramp up manufacturing of Apple devices, according to a source.
The development comes a day before US President Donald Trump announced imposing reciprocal tariff on several countries including India from April 2.
"Foxconn Hon Hai Technology India Mega Development Private Limited has obtained machinery equipment worth USD 32.25 million (about Rs 276 crore) for ramping up iPhone production in India," a source told PTI.
According to the source, Foxconn is working to almost double production of iPhones in India.
An email sent to Foxconn and Apple did not elicit any reply.
Mobile phone makers' body ICEA has proposed to reduce import duty on mobile phones from the US to zero from 15 per cent at present.
According to ICEA, the US is not a major manufacturing competitor to India across several electronics products. Instead, it offers a USD 80 billion mobile phone export opportunity to India.
Foxconn is also slated to start production of Apple airpods for exports at the Foxconn plant in Hyderabad this month.
Airpods will be the second product category that Apple will start producing in India after iPhones.
The development comes a day before US President Donald Trump announced imposing reciprocal tariff on several countries including India from April 2.
"Foxconn Hon Hai Technology India Mega Development Private Limited has obtained machinery equipment worth USD 32.25 million (about Rs 276 crore) for ramping up iPhone production in India," a source told PTI.
According to the source, Foxconn is working to almost double production of iPhones in India.
An email sent to Foxconn and Apple did not elicit any reply.
Mobile phone makers' body ICEA has proposed to reduce import duty on mobile phones from the US to zero from 15 per cent at present.
According to ICEA, the US is not a major manufacturing competitor to India across several electronics products. Instead, it offers a USD 80 billion mobile phone export opportunity to India.
Foxconn is also slated to start production of Apple airpods for exports at the Foxconn plant in Hyderabad this month.
Airpods will be the second product category that Apple will start producing in India after iPhones.
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